Deteriorating Profitability / Net LossesA sustained shift to net losses erodes retained earnings and return on capital, weakening the company's ability to self-fund growth or reinvest. Persistent losses over multiple years also increase reliance on external capital and can indicate structural demand, pricing, or cost problems.
Negative Operating And Free Cash Flow (2024–2025)Ongoing cash burn constrains strategic options and increases funding risk; even with low leverage, negative OCF forces reliance on equity or debt raises to cover operations. This reduces flexibility for investment, hiring, or product development and heightens execution risk over months.
Multi-year Revenue DeclineDeclining revenue erodes scale and operating leverage, pressuring margins and unit economics. Multi-year declines suggest structural market share loss or weakening demand that will need sustained corrective actions to reverse and may impair long-term competitive positioning.